Knowing cybersecurity threats a must for all businesses

March 07, 2018

Expanding a business’ digital footprint has its tremendous advantages. However, it also comes with inevitable risks. Knowing these risks and cybersecurity threats together with the proper solutions can help organizatons be properly educated to ensure the safety of all its sensitive data and resources.

As part of its #makeITsafePH cybersecurity campaign, Globe Business, the information and communications technology arm of Globe Telecom shares the top five cyber threats that business should be looking out for:

Ransomware is a threat that has evolved from invading home or office systems to the cloud. According to MIT Technology Review (www.technologyreview.com), "One big target in 2018 will be cloud computing businesses which house mountains of data for companies. Some also run consumer services such as e-mail and photo libraries.”

Ransomware growth in 2017 topped 2,500 percent, hitting hospitals, private businesses, and individual users. A major concern about ransomware attacks is that it is not limited to personal computers running Windows. Hackers are also targeting Macs and Linux PCs.

Phishing attacks through social engineering is another major threat, this time with individuals as main targets. Hackers use more complex manipulation methods in getting vital information from people who are already confident of their company's IT security. Continuous security education and awareness should also evolve in the workplace.

The rising popularity of cryptocurrencies is another trend that concerns online security officers of big businesses. The threat brought about by it is stealing a hardware's computing power. Hackers will compromise vulnerable systems by targeting its processing capabilities and mining them for cryptocurrencies.

Another threat involves cyber-physical attacks or the hacking of electrical grids, transportation systems, and critical infrastructure in many countries worldwide.

Meanwhile, the use of password alternatives like multi-factor authentication (MFA) or risk-based authentication will become a trend among many companies. According to International Data Group's companion website CSO Online (www.csoonline.com), many breaches of sensitive online information is due to password-only authentication that's becoming easy targets for hackers. Companies want to increase online security by implementing MFAs or risk-based authentication and this may lead to the decline of password-only authentication use.

"These days, it is hard to think of a business that is not present online. Advancements in technology have opened doors for enterprises to rely heavily on the internet. However, with almost everyone having access to the Internet, risks of being breached are at an all-time high. This is why we aim to assist enterprises in providing client protection by offering cutting-edge online security solutions," says Peter Manquera, SVP for Globe Enterprise Group.

"Businesses need to be proactive in combatting threats not only to protect their data, but also to make customers feel safe. Security never ends after an attack," he added.

To prevent becoming victims of cybersecurity threats, Globe myBusiness has come up with cost-effective tailor-made solutions which allow businesses to mitigate security threats before they happen. Among these solutions are: Anti-DDOS (distributed denial-of-service) which protects online services by keeping servers up and running; Managed Enterprise Firewall for real-time visibility that allows quick identification and validation of potential threats to the network; and Secure Email Gateway Cloud which eliminates threats before they reach the network and provides centralized email security for all environments, among others.

Also, through the #makeITsafePH campaign, the company provides practical tips and easy-to-digest information about the various threats an organization may face. With this, every client is fully informed and aware of the responsibilities to protect their organization. To know more about cybersecurity efforts of Globe Business, please visit http://business.globe.com.ph/solutions/cybersecurity.html.

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